Sri Lankan President Reveals Plans to Promote Competitive, Digitalised Green Economy

Sri Lankan President Ranil Wickremesinghe has revealed plans to create a new commercial bank, an economic commission and an institute called "Enterprise Sri Lanka" to promote a competitive and digitalised green economy, the President's Media Division (PMD) said.

Wickremesinghe said on Wednesday at the opening ceremony of an international industry exhibition that Sri Lankan industrialists need to secure loans at low interest rates and the new commercial bank will help address the need, Xinhua news agency reported.

The President added that the industries must be powered through green energy sources and the country is working on significantly increasing the share of renewables in the country's energy mix.

He also announced forthcoming negotiations with creditor countries on debt restructuring, saying that the government is expected to reach an agreement with the creditor nations within the next few weeks.